Plethico shares climb 9 % on acquisition plans
Plethico Pharmaceuticals rose over 9 per cent after the drugmaker said it was eying acquisitions in the United States and Brazil for $150 million.
By ET Online |
MUMBAI: Plethico Pharmaceuticals rose over 9 per cent after the drugmaker said it was eying acquisitions in the United States and Brazil for $150 million.
At 11:15 am, the Plethico share was up 5.47 per cent at Rs 395, easing from a high of Rs 408.40 clocking a volume of 20,992 against two-week average of 8,849 shares.
Plethico plans to bid for a nutraceutical firm in the United States, and has also signed a preliminary confidentiality agreement with another nutraceutical firm there. Last year, Plethcio acquired US-based branded nutritional products maker Natrol Inc for about $81 million.
In Brazil, Plethcio is in talks with two companies, one a herbal products maker and the other a maker of allopathic and over-the-counter products.
At 11:15 am, the Plethico share was up 5.47 per cent at Rs 395, easing from a high of Rs 408.40 clocking a volume of 20,992 against two-week average of 8,849 shares.
Plethico plans to bid for a nutraceutical firm in the United States, and has also signed a preliminary confidentiality agreement with another nutraceutical firm there. Last year, Plethcio acquired US-based branded nutritional products maker Natrol Inc for about $81 million.
In Brazil, Plethcio is in talks with two companies, one a herbal products maker and the other a maker of allopathic and over-the-counter products.
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